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The insurance industry in Cameroon: 2012-2016

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Magazine Issue: 
Gulf insurers up against changing times [3]
Magazine date: 
Jan 2018

Insurance market features 2016

  • Regulatory authority: Ministry of finance and budget Insurance department
  • Life and non life premiums(2016): 299 million USD
  • Insurance density (2016): 12.75 USD
  • Insurance penetration rate (2016): 1.23%

Insurance market structure 2016

  • Non life insurance companies : 16
  • Life insurance companies: 10
  • Insurance and reinsurance brokers(2): 87
  • Insurance agents: 71

Profile

Area: 475 442 Km2
  • Population(1) (2016): 23.44 million of inhabitants
  • GDP(1) (2016): 24.204 billion USD
  • GDP per capita (2016): 1 033 USD
  • Inflation rate (2016): 2.2%
  • Main economic sectors: hydrocarbon industry (petroleum), food industry, agriculture (coffee, cocoa, cotton ...), services.

Major cities

(per number of inhabitants in 2015)

  • Yaoundé (capital): 2 765 000
  • Douala : 2 768 000
  • Garoua : 546 060
  • Bamenda : 415 251
(1) Source : World Bank
(2) Source : APCAR - professional association of insurance and reinsurance brokers of Cameroon
 

The Insurance Industry in Cameroon: evolution of life and non life turnover (2012-2016)

in USD
 20122013201420152016
Non life
222 577 832251 149 461216 965 909217 664 405211 261 289
Life
80 815 70986 114 84382 198 51285 885 17587 360 356
Total
303 393 541 337 264 304 299 164 421 303 549 580 298 621 645

The non life Insurance Industry in Cameroon: evolution of turnover per non life insurance company (2012-2016)

in USD
 201220132014201520162016 shares
AXA Assurances
22 532 09325 905 88125 269 50132 452 27032 867 79115.5%
SAAR Assurances
29 649 70938 695 30234 008 88229 958 98430 423 87714.4%
ACTIVA Assurances
28 401 58031 605 45528 670 46827 773 27028 461 66413.5%
Allianz Assurances Cameroun
19 643 33220 820 81219 506 91421 562 16421 546 25410.2%
Chanas Assurances
47 009 76342 911 09535 667 44124 101 91418 766 7548.9%
Garantie Mutuelle des Cadres
11 146 46015 497 88214 330 28915 061 14315 027 8147.1%
Zenithe Insurance
6 113 80311 849 4427 465 15313 091 23012 374 9205.9%
NSIA Assurances
16 159 34819 180 00212 010 79911 867 34112 047 8955.7%
Saham Assurances Cameroun
15 702 44613 940 1906 819 90312 420 75811 412 6265.4%
Assurances & Réassurances Africaines (AREA)
4 425 0635 370 0567 030 2096 817 1596 390 2723%
Compagnie Professionnelle d'Assurances (CPA)
4 317 7473 986 9464 118 9554 691 1284 711 6232.2%
Assurances Générales du Cameroun
3 534 6225 088 1395 208 6704 434 3854 120 0322%
Pro Assur
3 031 4794 144 1203 878 4973 992 0563 971 8181.9%
Beneficial General Insurance
2 858 8013 343 5362 949 3622 579 3123 561 4051.7%
Cameroon Insurance (CAMINSUR)
2 535 6803 078 8693 346 0583 619 1952 838 9521.3%
Samaritan Insurance
5 515 9065 731 7346 684 8083 242 0962 737 5921.3%
Total
222 577 832 251 149 461 216 965 909 217 664 405 211 261 289 100%

Market shares per non life company in 2016

market cameroon non life insurance

(1) 9 companies

The life insurance Industry in Cameroon: evolution of turnover per life insurance company (2012-2016)

in USD
 201220132014201520162016 shares
Allianz Cameroun Assurances Vie
28 545 09929 085 83526 425 61028 679 17130 022 75234.4%
Beneficial Life
15 765 06217 132 87715 811 87617 039 54816 599 17919%
SUNU Assurances Vie (1)
16 041 08413 107 24716 036 88615 852 45314 644 33216.8%
ACTIVA Vie
10 620 08112 610 82011 808 60211 815 89512 418 57314.2%
SAAR Vie
5 256 5996 674 4715 844 9496 376 6616 103 6027%
Saham Life Insurance
4 322 2987 099 3595 288 3095 367 1375 240 3236%
NSIA Assurances Vie
--387 754419 5111 979 0442.2%
Pro Assur Vie
265 486404 234594 526334 799344 1370.39%
WAFA Assurance Vie
----5 1920.006%
ACAM Vie
----3 2220.004%
Total
80 815 709 86 114 843 82 198 512 85 885 175 87 360 356 100%
(1) The Union des Assurances du Cameroun-vie (UACam-vie) became SUNU Assurances as from 2014

Market shares per life insurance company in 2016

market Cameroon insurance life

(2) Including Pro Assur Vie, WAFA Assurance Vie and ACAM Vie

The life insurance Industry in Cameroon: evolution of turnover per class of business (2012-2016)

in USD
 201220132014201520162016 shares
Bodily injury and health
56 328 81062 094 35451 089 41750 429 99850 424 32016.9%
Motor
68 461 36083 601 66072 956 36472 083 00277 413 54025.9%
Fire and other property damage
26 111 95328 777 38630 429 49533 472 95926 788 5999%
Marine
48 592 70050 782 36736 355 58237 212 75930 090 34310%
Other risks(1)
23 083 00925 893 69426 135 05124 465 68726 544 4878.9%
Total non life
222 577 832 251 149 461 216 965 909 217 664 405 211 261 289 70.7%
Life(2)
80 815 70986 114 84382 198 51285 885 17587 360 35629.3%
Grand total
303 393 541337 264 304299 164 421303 549 580298 621 645100%

Market shares per class of business in 2016

market Cameroon insurance life non life

(1) Including third party liabiliy, other non life risks, acceptances, credit and bond
(2) Including group life policies, individual life insurance and acceptances Source: Association of Cameroon’s insurance companies (ASAC)
Exchange rate
FCFA/USD as at 31/12
2012
2013
2014
2015
2016
0.002019
0.002098
0.001853
0.001666
0.001608
Tue, 30/01/2018 - 15:40

Source URL: https://www.atlas-mag.net/en/article/the-insurance-industry-in-cameroon-2012-2016

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